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← 4 RIVERS ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by 4 RIVERS ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$28,211,399
Total expenses
$28,476,773
Contributions and grants received
$0
Grants paid
$2,750
Program service revenue
$28,091,627
Investment income
$75,258
Other revenue
$44,514
Total assets, end of year
$78,628,848
Total liabilities, end of year
$39,965,402
Net assets or fund balances, end of year
$38,663,446
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: SALE OF ELECTRICITY

    total $27,610,450 · related or exempt $27,610,450

  • 2b · Program service revenue: CAPITAL CREDITS

    total $286,872 · related or exempt $286,872

  • 2c · Program service revenue: OTHER OPERATING REVENUE

    total $153,526 · related or exempt $153,526

  • 2d · Program service revenue: RENTAL OF ELECTRIC PROPERTY

    total $40,779 · excluded $40,779

  • 3 · Investment income

    total $49,258 · excluded $49,258

  • 6a · Gross rents

    real property $25,308

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $25,308

  • 6d · Net rental income or loss

    total $25,308 · excluded $25,308

  • 7a · Gross sales of assets other than inventory

    other assets $26,000

  • 7b · Less cost or other basis and sales expenses

    other assets $0

  • 7c · Gain or loss

    other assets $26,000

  • 7d · Net gain or loss

    total $26,000 · excluded $26,000

  • 10a · Gross sales of inventory

    $87,361

  • 10b · Cost of goods sold

    $68,155

  • 10c · Net income from sales of inventory

    total $19,206 · related or exempt $19,206

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,750

  • 4 · Benefits paid to or for members

    total $2,494,073

  • 5 · Compensation of officers, directors and key employees

    total $977,050

  • 7 · Other salaries and wages

    total $766,805

  • 8 · Pension plan contributions

    total $72,256

  • 9 · Other employee benefits

    total $66,015

  • 11g · Fees: other

    total $219,934

  • 12 · Advertising and promotion

    total $56,488

  • 13 · Office expenses

    total $262,754

  • 16 · Occupancy

    total $820

  • 20 · Interest

    total $1,339,728

  • 22 · Depreciation, depletion and amortization

    total $2,839,895

  • 24a · Other expenses: COST OF POWER

    total $13,544,886

  • 24b · Other expenses: DISTRIBUTION - OPERATIO

    total $2,734,508

  • 24c · Other expenses: DISTRIBUTION - MAINTENA

    total $1,767,541

  • 24d · Other expenses: CUSTOMER ACCOUNTS & SER

    total $766,969

  • 24e · All other expenses

    total $564,301

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $1,595,750 · end of year $1,918,603

  • 4 · Accounts receivable

    beginning of year $2,207,811 · end of year $2,663,495

  • 8 · Inventories for sale or use

    beginning of year $196,913 · end of year $292,670

  • 9 · Prepaid expenses and deferred charges

    beginning of year $352,099 · end of year $171,170

  • 10a · Land, buildings and equipment: cost or other basis

    $96,954,477

  • 10b · Land, buildings and equipment: accumulated depreciation

    $34,251,237

  • 10c · Land, buildings and equipment, net

    beginning of year $62,168,717 · end of year $62,703,240

  • 12 · Investments: other securities

    beginning of year $1,038,632 · end of year $1,207,245

  • 13 · Investments: program-related

    beginning of year $9,325,518 · end of year $9,497,810

  • 14 · Intangible assets

    beginning of year $168,776 · end of year $168,776

  • 15 · Other assets

    beginning of year $5,745 · end of year $5,839

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,795,283 · end of year $2,906,051

  • 19 · Deferred revenue

    beginning of year $253,545 · end of year $217,475

  • 23 · Secured mortgages and notes payable

    beginning of year $35,833,716 · end of year $34,234,831

  • 24 · Unsecured notes and loans payable

    beginning of year $600,000 · end of year $2,000,000

  • 25 · Other liabilities

    beginning of year $579,724 · end of year $607,045

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

SERVING AND CARING.

Activities or mission (Part I)

TO PROVIDE ELECTRICITY SERVICE TO MEMBERS.

  • 4 RIVERS ELECTRIC COOPERATIVE IS A RURAL ELECTRIC COOPERATIVE DELIVERING ELECTRICITY TO 12,607 METERS IN EAST, CENTRAL KANSAS. THE GOAL IS TO PROVIDE CONSISTENT, RELIABLE ELECTRIC SERVICE TO OUR MEMBERS AT A REASONABLE COST, CONSISTENT WITH MAINTAINING SOUND BUSINESS PRACTICES.

As filed on the 2022 return.

Listed in Part VII

  • Michael Springer

    PRESIDENT

    Total calculated
    $3,150
    From this org
    $3,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.1

  • Robert Converse

    VICE PRESIDENT

    Total calculated
    $3,150
    From this org
    $3,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.9

  • A Eugene Huston

    SECRETARY

    Total calculated
    $6,150
    From this org
    $6,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.9

  • Larry Felts

    TREASURER

    Total calculated
    $4,150
    From this org
    $4,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • Tom Ayers

    TRUSTEE

    Total calculated
    $3,750
    From this org
    $3,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.1

  • David Kunkel

    TRUSTEE

    Total calculated
    $3,850
    From this org
    $3,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.2

  • Warren Schmidt

    TRUSTEE

    Total calculated
    $3,950
    From this org
    $3,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.9

  • Nick Frankenbery

    TRUSTEE

    Total calculated
    $3,750
    From this org
    $3,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.3

  • Randall Bunnel

    TRUSTEE

    Total calculated
    $3,550
    From this org
    $3,550
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.3

  • Sandra Smith

    TRUSTEE

    Total calculated
    $5,100
    From this org
    $5,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.3

  • Robert Harkrader

    TRUSTEE

    Total calculated
    $6,600
    From this org
    $6,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.3

  • Carol Wehmeyer

    TRUSTEE

    Total calculated
    $1,300
    From this org
    $1,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.9

  • Stacy Heins

    TRUSTEE

    Total calculated
    $3,350
    From this org
    $3,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.3

  • Loren Dickens Jr

    TRUSTEE - BEGIN 04/2022

    Total calculated
    $3,150
    From this org
    $3,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Roger Cole

    CFO

    Total calculated
    $263,336
    From this org
    $158,944
    From related orgs
    $0
    Other
    $104,392
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $158,944
    Bonus
    $0
    Other
    $0
    Deferred
    $83,707
    Nontaxable benefits
    $22,280
    Filer's total
    $264,931

  • Mark Doebele

    COO

    Total calculated
    $464,454
    From this org
    $181,688
    From related orgs
    $0
    Other
    $282,766
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $181,688
    Bonus
    $0
    Other
    $0
    Deferred
    $259,555
    Nontaxable benefits
    $25,072
    Filer's total
    $466,315

  • Dennis Svanes

    CEO

    Total calculated
    $392,337
    From this org
    $286,585
    From related orgs
    $0
    Other
    $105,752
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $286,585
    Bonus
    $0
    Other
    $0
    Deferred
    $82,540
    Nontaxable benefits
    $25,976
    Filer's total
    $395,101

  • Kenneth Caudell

    IT MANAGER

    Total calculated
    $215,292
    From this org
    $134,469
    From related orgs
    $0
    Other
    $80,823
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $134,469
    Bonus
    $0
    Other
    $0
    Deferred
    $57,611
    Nontaxable benefits
    $24,573
    Filer's total
    $216,653

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 4B
THE CEO, DENNIS SVANES, PARTICIPATES IN A SUPPLEMENTAL NONQUALIFIED DEFERRED COMPENSATION PLAN. CONTRIBUTIONS ADJUSTED FOR GAINS/(LOSSES) IN THIS PLAN WERE $1,388 IN 2022.
FORM 990, SCHEDULE J, PART II
AS REQUIRED PER THE INSTRUCTIONS OF FORM 990 AND SCHEDULE J, THE AMOUNT REPORTED IN SCHEDULE J COLUMN C IS THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN RATHER THAN THE EXPENSE ON THE BOOKS OF THE COOPERATIVE. THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR DENNIS SVANES IS $75,957, WHEREAS THE ACTUAL EXPENSE FOR THE PLAN WAS $91,155. THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR MARK DOEBELE IS $254,235, WHEREAS THE ACTUAL EXPENSE FOR THE PLAN WAS $61,355. THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR ROGER COLE IS $79,155, WHEREAS THE ACTUAL EXPENSE FOR THE PLAN WAS $52,590. THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR KENNETH CAUDELL IS $53,712, WHEREAS THE ACTUAL EXPENSE FOR THE PLAN WAS $44,877.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • LCEC SERVICES INC

    C · INTERNET · KS · 100% owned · share of assets $100 · controlled entity

    Directly controlled by 4 RIVERS ELECTRIC COOPERATIVE

Provenance

Return type
form_990
Tax year
2022
Filed
8 August 2023
IRS schema version
2022v5.0
Source object
202342289349301304

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